Wilson Mortgage Services, Inc. has land loans available with 20% down. They are normally amortized over 30 years but due in 15. Most land loans have some type of balloon mortgage with them.

Land loans are given for construction of a primary residence only. They are not given for development purposes. Because of this, even though the land loan might have a 15 year balloon with it, most people build within a year or two of obtaining the land loan.

When you build on the land, the land loan gets paid off with the construction loan.